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[–] 94 points 5 months ago (20 children)

I wish I had 15k in my checking account

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  • [–] 7 points 5 months ago (6 children)

    Honestly, if I ever have that much in my checking account, then I won't have that much in my checking account, because I would move at least 10k into savings or something with higher-yield and less liquidity.

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  • [–] 1 point 5 months ago (5 children)

    There are Money Market and similar accounts which act like checking accounts but have interest rates like high yield savings accounts. They typically have a minimum balance of like $5k or more so if you have a large sum of money flowing through the account each month you can still get the yields but an unexpected pileup of bills out of order doesn't cause declined transactions

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  • [–] 1 point 5 months ago* (4 children)

    Yup, I was thinking along the lines of a money market savings account. They're perfect for emergency savings funds because there's no restrictions on withdrawals like with a CD. If you go below the threshold then you don't get the higher yield, but that only happens in an emergency when you need to draw from it.

    I usually keep enough for my recurring expenses in my checking account, so auto-pay goes through without any overdrafts. I keep a little on top of that for discretionary spending and move the rest to savings.

    That's why I said I would never have $15K in checking at one time. Just seems like bad money management.

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  • [–] 1 point 5 months ago (3 children)

    They’re perfect for emergency savings funds because there’s no restrictions on withdrawals like with a CD.

    It's funny you say that! I've started putting some of my emergency fund into CDs. It's just a $20 fee to withdraw early, and its more than $20 in extra interest compared to the HYSA by having it in a CD so it maths out

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  • [–] 1 point 5 months ago (2 children)

    I've heard of some people doing multiple CDs with a staggered start so that once they start maturing, one matures every 3 months or so.

    It sounds like a good idea, and it's more liquid than putting it all in one CD, but I'd still be concerned with an emergency hitting just after rolling over one of the CDs and not having three months to wait for the next one.

    If you don't mind the penalty for early withdrawal then I guess it's fine, but I thought some make you forfeit the interest accrued?

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  • [–] 2 points 5 months ago (1 child)

    If you don’t mind the penalty for early withdrawal then I guess it’s fine, but I thought some make you forfeit the interest accrued?

    I believe this is correct. Personally I keep half of my emergency fund in my HYSA and the other half in CDs, with the thinking being that 95% of the time I won't have to touch any of it, then in a big enough emergency I'll have the funds in the HYSA, my checking buffer and my (traditional) savings buffer to lean on first while I sort out the financial specifics for the rest of the emergency. And the extra couple hundred bucks a year the CDs earn over the HYSE should make up for any losses if I do ever have to break one early

    Any emergency that costs enough to hit the HYSE is going to be the kind of emergency where you can take the time to figure out the best financial path forwards, maybe even negotiate totals or buy time with a good faith partial payment

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  • [–] 18 points 5 months ago (8 children)

    $15k, even if you have it, is way too much to leave sitting in a checking account. At the very least invest it in something with high liquidity like the VOO

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  • [–] 27 points 5 months ago* (1 child)

    I'm convinced any excess I get my house or car know about and conspire to drain it as fast as possible. They'll fail even when they worked completely fine before I had that money.

    Looks like you got a nice $2k bonus... be a shame if this radiator suddenly burst and even the mechanics can't explain why. Must have been a factory defect.

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  • [–] 10 points 5 months ago (2 children)

    the VOO

    Is that something for very excited people with a speech impediment? 🤔

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  • [–] 87 points 5 months ago

    Sorry, honey, I just wanted to make breakfast

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  • [–] 51 points 5 months ago

    They already share a checking account. Seems like marriage is just a formality at this point.

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  • [–] 43 points 5 months ago (1 child)

    This is upsetting in several ways.

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  • [–] 33 points 5 months ago (6 children)
  • [–] 26 points 5 months ago (5 children)

    If Babe is the kinda person that demands a 15k ring, then they're not the one that needs to run...

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  • [–] 2 points 5 months ago* (2 children)

    For some reason, I read that as "15kg ring".

    Although, she might have meant 5k rings. 3 of them. 1 for her, 1 for him and 1 for whomsoever they are going to adulterate with.

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  • [–] 25 points 5 months ago (1 child)

    'Cause if you like it, then you should've put a ring buffer on it

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  • [–] 21 points 5 months ago

    Babe ❌

    Ex ✅

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  • [–] 19 points 5 months ago (9 children)

    TBH investing 15k in a diamond ring is a pretty shitty financial decision.

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  • [–] 5 points 5 months ago (6 children)

    I get really annoyed when people call their purchase an "investment". People are calling buying a ring, a truck, or a TV an investement, like that would justify the purchase.

    No wonder Americans are constantly broke.

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  • [–] 3 points 5 months ago (5 children)

    It's silly because the rain if a dowry (where the act of giving jewelry is hailing from) is as a financial back up for the (family of) the bride.

    This got commercialized by de beers to become the most romantic tradition, but as a purchase you are just buying a bunch of shiny carbon that depreciates by 40% when you exit the store.

    If that's your money worth, then be my guest.

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  • [–] 1 point 5 months ago (4 children)

    Actually only synthetic diamonds depreciate, the real ones stay the same, but that still means they're not an investment

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  • [–] 2 points 5 months ago (1 child)

    From New value? No they instantly depreciate. There's so much more stock than there's market for. This is very well controlled to resist overflooding the market.

    But if you walk out of a jeweler and get the same price for a diamond that you paid for it you are a genius.

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  • [–] 10 points 5 months ago

    god i hope this isn't real lol

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  • [–] 10 points 5 months ago

    Soon to be CrashGitHub Copilot users too.

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  • [–] 9 points 5 months ago (1 child)

    Companies are already cancelling and limiting Claude subscriptions. Is this the turning point for AI?

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  • [–] 16 points 5 months ago (4 children)

    Why would you buy a ring for 15k?

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  • [–] 16 points 5 months ago (3 children)

    Why would you buy anything at any price?

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  • [–] 8 points 5 months ago* (last edited 5 months ago) (1 child)

    $15k would get you a used AMD server, a 5090 or a set of 3090s, and enough leftover cash for electricity to just run a 1T parameter LLM at home. Plus, it’s yours.

    And that’s hilariously inefficient.

    It’s completely nuts to me that people pay Anthropic per token, at that rate. I think 1 whole year for GLM’s coding plan was a flat $30, or something.

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  • [–] 7 points 5 months ago

    The next invoice was of course from a funeral home.

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  • [–] 24 points 5 months ago (4 children)

    A few problems with this, off the top of my head:

    1. They're presumably not even engaged yet, and yet they're sharing a checking account?

    2. Who the fuck would spend $15k on an engagement ring?

    3. Why the fuck would you have $15k sitting in checking?

    4. What dumbass ran up a 5-digit bill on an LLM API?

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  • [–] 11 points 5 months ago (3 children)
    1. My now wife and I had a shared checking account before we were engaged. We lived together and had shared bills, so we would both just put what we could into the shared account and pay the rent and utilities from there.

    2. My wife's ring is moissanite and cost like $900 at the time, she still pretty consistently gets compliments on it. I spent what I "saved" by avoiding a diamond on a down payment on a house back when that wasn't 100k.

    3. I didn't have a savings account until my wife and I fully combined our finances. My checking was my savings. I'm not a big spender so it was never a problem.

    4. I got nothing here.

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  • [–] 7 points 5 months ago (1 child)

    To help with 4)

    Pricing models changed last month, and what was $500 is now like $15,000

    There has been a lot of news of people hit with unexpected bills larger than that

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  • [–] 3 points 5 months ago

    That fucking sucks and I would say I hope they sue, but honestly they're kinda dumbasses and I find it hard to sympathize with dumbasses. I hope they all cancel their accounts though and finally burst this AI bubble, since this was the endgame all along.

    Also, laws are so bullshit that any lawsuits would just get dismissed with "shoulda read the terms and conditions" nonsense...

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  • [–] 2 points 5 months ago

    Fair enough, I guess there are exceptions to every rule. I'm not here to judge people's life choices, but honestly you'd have to at least be pretty confident you'll spend the rest of your life with someone in order for sharing a bank account to be even remotely a good idea. Seems to have worked out for you and your wife though, so that's nice.

    You were smart to save money on the ring. It's crazy that that's even viewed as a "cheap option", even though it's nearly $1000. But yeah, spending what could be a down payment on a house or a college fund for future children on a ring is a stupid societal norm that should be relegated to the past.

    But seriously though, read up on moneymarket savings accounts (at least), as well as certified deposits and mutual funds (if you haven't already).

    Briefly:

    • A moneymarket account functions like a savings account, but typically has a minimum deposit and a higher yield (maybe 1-2% APY). Often the yield increases by tiers based on how much is in your account.
    • A CD has a slightly higher yield but it's illiquid for a set period if time. You might find them offering 2-4% APY, with the agreement that you won't touch the deposit until the time expires. If you withdraw early you typically lose any interest gained. But they might mature in 6 months, 12 months, 24 months, etc., and you can stagger them.
      • (Say you make a new CD every three months, well once they start maturing you have one maturing every three months. You can roll them into a new one if you don't need the money right away, and keep it going indefinitely, but the illiquidity isn't as big of a problem cause every few months you have a chance to withdraw)
    • A mutual fund is basically like buying stocks, except instead of buying a share at a company, you buy a share of a fund managed by a professional who buys and sells on the stock market. As such, it's higher risk than CDs and money market account, but lower risk than actual stocks (because it's managed by people who know what they're doing and it's their job to monitor positions). It's also more liquid than a CD, there's typically no long-term commitment. The yields can vary widely (as can anything on the stock market), but typically they're less volatile than individual stocks, meaning they're a bit more stable. A well-managed mutual fund can deliver between 5-10% APY fairly consistently. Some might even have specific criteria for their investments, like if you want one that only invests in certified B corporations with good ESG scores (ethical standards, basically).
  • Basically, if you have more in savings than you need on hand for recurring expenses, emergencies, and specific things you're saving up for, you should find some higher-yield account types to put the rest in based on your needs and risk tolerance. But even your emergency savings could probably be in a moneymarket savings account because it probably meets the threshold for a somewhat higher yield.

    It's not so much about accidentally spending too much, it's more that checking accounts and regular savings accounts yield a fraction of a percentage as interest, which when adjusted for inflation means you're actually losing money with it just sitting there.

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  • [–] 6 points 5 months ago

    It's what it's

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  • [–] 4 points 5 months ago (2 children)

    I'm dumb, can anyone explain why anyone would pay for AI? I mean if I type claude.ai into my browser, I can use Claude for free?

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